June, 2011 Archives
Diplomat Specialty Pharmacy Grows in Flint, MI Diplomat Specialty Pharmacy, the nation’s largest privately held specialty pharmacy company servicing the needs of patients and physicians nationwide, announced today it has received an 18-year Michigan Economic Growth Authority (MEGA) tax credit for $61.5 million and $14 million in Career Alliance, Inc. workforce training funds. Diplomat expects the bulk of its employees to be based in Flint, where the company plans to purchase a 340,000 square foot building at the Great Lakes Technology Centre complex on Saginaw Street. The company will invest $12 million in the building over the next five years and anticipates it will move from its current headquarters space in Flint Township to the Saginaw Street site on a phased-in basis beginning in 90 days, with all headquarters operations and employees relocated over the next 12 months. Additional incentives will also be made by the City of Flint, MI that will allow the company to focus its immediate expansion efforts in Flint. Diplomat’s employee base, currently more than 400 company-wide, with approximately 350 employees in Michigan, is expected to add over 1000 new jobs in life sciences in five years and 4,000 by 2028. The announcement was made by Diplomat Specialty Pharmacy President, CEO and co-founder, Phil Hagerman, Hagerman said the state tax incentives strengthen Diplomat’s future in Michigan. “Diplomat Specialty Pharmacy is a leader and innovator in specialty pharmacy, a dynamic industry experiencing explosive growth. The tax credits awarded to Diplomat mean Michigan can further position itself as a life sciences leader, attracting new and complementary businesses that support the rejuvenation of the Flint business landscape and the appeal of Michigan as a hotbed of ingenuity and health care talent,” Hagerman said. “We thank [the governor’s office], the MEGA Board, the City of Flint and the Genesee Regional Chamber of Commerce for their support in assuring that Diplomat will remain a Michigan-based company.” Diplomat Specialty Pharmacy was included on the INC. 500 list of fastest growing private companies in America. Of the 43 companies in the health care category, Diplomat ranked #1 in total revenue and sales growth. The company anticipates revenues of $600 million in 2010. Specialty pharmacy refers to a branch of the pharmaceutical delivery system that focuses on comprehensive and coordinated systems of pharmacological care for patients with serious and chronic illnesses and complex medical conditions. Diplomat offers its services through contracts with prescription benefit managers and health plans, and through direct relationships with physicians and patients. Diplomat also provides services to large retail pharmacies […]
Hamlet Protein Brings Animal Feed Production to Findlay Hamlet Protein, a manufacturer of soy-based protein for animal feeds headquartered in Horsens, Denmark, will begin production in Findlay, OH in early 2012, creating 25 jobs. Hamlet Protein is investing $20 million in Findlay: $15 million in machinery and equipment, $4 million to buy the plant and $1 million in renovations, according to Findlay-Hancock County Alliance Economic Development Director Anthony Iriti. The Findlay site beat out competing locations in Indiana, Illinois and Iowa. A $2 million low-interest loan to Hamlet was approved by Ohio officials. The state also offered a $96,000 payroll tax credit over six years for the jobs to be created. Also, Hancock Regional Planning Commission is making a $500,000 low-interest loan from its revolving loan fund. Hancock County JobSolutions is extending $369,000 in assistance, including $310,000 in worker training and $59,000 in recruitment and screening assistance. Hamlet will operate in an 88,000-square-foot building constructed by A. Schulman in 2008 but never occupied, north of Tall Timbers Industrial Center at 5289 Invision Drive. Hamlet Protein will buy its raw materials from soybean farmers in the area. “Agriculture plays a major role in our county, and we’re happy to see this area of industry growing,” Hancock County Commissioner Ed Ingold told the Courier News. “The presence of Hamlet Protein will be a huge benefit for our agricultural sector and economy as a whole.” Hamlet Protein’s supplements go mainly into feed for piglets. But Hamlet Protein officials see opportunities to sell more protein supplements to makers of food for poultry, calves and pets. Hamlet Protein’s Findlay plant will employ people in operations, administrative and information technology jobs, the state Development Department reported. The average wage will be $22 per hour plus $10 per hour in benefits, the state reported. Findlay Mayor Pete Sehnert called Hamlet Protein a great company with great values. “This organization will be a wonderful addition to our community,” Sehnert said. Finnish Wireless Tech Company Lands in Akron Akron Mayor Don Plusquellic has announced that Finland-based wireless network technology company, 7signal Ltd., is locating its sales offices and Network Operation Center in Akron’s Biomedical Corridor. “In today’s world of health care,” said the Mayor, “one of the most critical missions is to develop computerized software and hardware that enhances the work of doctors and hospitals.” The mission of 7signal is to make wireless LAN (WLAN) network work reliably in hospital settings. The company’s unique “Wireless Quality Assurance (WQA)” solution helps to ensure that end-users of the healthcare applications (doctors, […]
International Paper Invests $83 million in Wight County Mill International Paper is investing $83 million to repurpose a portion of its closed mill in Isle of Wight County as a fluff pulp mill capable of annually producing up to 270,000 metric tons of high quality fluff pulp for the global market. The project will create 213 new jobs. Speaking about the recent announcement, Gov. Bob McDonnell said, “This project is tremendous news for Isle of Wight County and the entire region. After International Paper’s closure that resulted in a devastating job loss, it is hugely significant that the company has decided to make this $83 million investment in a fluff pulp operation at its former mill. This project is a great sign of the Commonwealth’s ongoing economic rebound. It will help offset the economic ripple effect caused by the company’s 2009 announcement and it is further evidence that Virginia is wide open for business. ” “Isle of Wight County and the surrounding region have the available, trained workforce that is ready to fill these 213 new positions,” said Jim Cheng, Virginia Secretary of Commerce and Trade. “The mill’s current assets, transportation options and proximity to the Port of Virginia for product export all were factors that contributed to the company’s decision to re-invest in the repurposing of the property. In addition, the availability of U.S. Southern Pine in the area is ideal for the production of high-quality fluff pulp.” International Paper is a global paper and packaging company with manufacturing operations in North America, Europe, Latin America, Russia, Asia and North Africa. Its businesses include uncoated papers and industrial and consumer packaging, complemented by xpedx, the company’s North American distribution company. Headquartered in Memphis, Tennessee, the company employs about 59,500 people in more than 24 countries and serves customers worldwide. 2010 net sales were more than $25 billion. “IP is currently the third largest global supplier of fluff pulp and this investment gives us greater participation in a growing market,” said Mark Sutton, International Paper Senior Vice-President Printing and Communications Papers the Americas. “IP is a leader in the use of renewable energy. The Franklin fluff pulp facility will be 89% energy self-sufficient, utilizing power generated from carbon-neutral biomass on-site. The capability of producing energy from renewable biomass resources makes the remaining portions of the Franklin Mill site an ideal location for other partners looking for on-site green energy options.” The Virginia Economic Development Partnership worked with Isle of Wight County to secure the project for Virginia. The Virginia Department […]
U.S. ports play a major role in the many advantages Foreign Trade Zones offer. This one-two punch keeps America competitive in the race for investment dollars and helps power the recovery.
With the nation’s largest supply of biomass, the Hawkeye State is leading the way in biofuels, biochemicals, plastics and adhesives.
The U.S. lead in biotechnology no longer is a sure thing as growth leaders like China and India join the fray. Government, industry and academia must join forces to remain No. 1.